Matthew and Susan are both optimizing consumers inthe markets for shirts and hats, where they pay $100for a shirt and $50 for a hat. Matthew buys 4 shirtsand 16 hats, white Susan buys 6 shirts and 12 hats.From this information, we can infer that Matthew'smarginal rate of substitution is __ hats per shirt,while Susan 's isa. 2, 1b. 2, 2c. 4, 1d. 4, 2

Matthew and Susan are both optimizing consumers inthe markets for shirts and hats, where they pay $100for a shirt and $50 for a hat. Matthew buys 4 shirtsand 16 hats, white Susan buys 6 shirts and 12 hats.From this information, we can infer that Matthew'smarginal rate of substitution is __ hats per shirt,while Susan 's isa. 2, 1b. 2, 2c. 4, 1d. 4, 2

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter21: The Theory Of Consumer Choice

Section: Chapter Questions

Problem 3CQQ

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